Nubank (NYSE: NU), one of the world’s digital financial services platforms, announces the launch of products that aim to enable greater autonomy for customers. The Nu Guaranteed Limit (Nu Limite Garantido) and the Limit Mission (Missão Limite) reinforce Nubank’s positioning as “a partner in the customers’ financial journey, encouraging the conscious and responsible use of credit.”
The Nu Guaranteed Limit (Nu Limite Garantido), a tool “familiar to Nu customers, now offers control and flexibility: any Money Box (Caixinha) can be used to increase the Credit Card limit.”
Previously, only the Guaranteed Limit Money Box and Treasury Direct (Tesouro Direto) securities “allowed for this credit expansion.” The new feature is being rolled out gradually, and soon, Turbo Money Box “will also be able to allow this increase.”
Complementing Nubank’s approach to “conscious” credit, the institution also announces the Limit Mission (Missão Limite), an experience that “encourages good financial habits with a direct impact on credit card limit.”
The experience is divided into 3 cycles, with “mandatory missions, such as depositing a minimum amount in the Money Boxes, paying the invoice by the due date, and concentrating daily spending on the Nu card.”
There are optional activities, like including “accounts for automatic debit, updating income data, and consenting to Open Finance.” With each completed cycle, the customer “earns a limit increase.” The percentage of the increase varies “according to the customer’s credit profile.” The Limit Mission will be gradually made “available to eligible customers.”
Arthur Valadão, Vice President and General Manager at Nubank has said that they know that credit is fundamental for daily life and “a key component for achieving goals…, and for many of customers, having a higher card limit is a significant step that can make a difference in their lives.”
With these tools, they want to help customers “build their credit limits in a healthy and sustainable way.”
In addition to the features, Nubank says that it continues to enhance its existing products that also focus on the “conscious use of the card and transparency in building a credit history with the institution.” One particular example is NuScore, which will soon be offered at some later point to all customers and offers insights into customers’ financial health, as well as providing certain recommendations to enhance the score and a path to attaining goals.
